Description

Brazil Petrochemicals Report Q4 2017 Description

BMI View: Brazilian petrochemicals imports are soaring, indicating that the industry's lack of competitiveness means it is losing out in terms of market growth. In the long-term, lack of investment and the cancellation of the petrochemicals element of the Comperj mega-project will ensure that Brazil will see further increases in imports. The sector's decline is exacerbated by the corruption scandal that has undermined confidence and the ability of domestic petrochemicals producers, under the cosh of massive fines, to respond to future domestic consumption growth.